Fidelity Natl Information Svcs Stock Price, News & Analysis

FIS, a global leader in financial services technology, will release its third quarter 2022 financial results on November 3, 2022, before market opening. The company will host a live earnings conference call at 8:30 a.m. EDT, accessible via its Investor Relations page. FIS provides innovative technology solutions for financial institutions and businesses, aiming to enhance commerce through advanced financial technology. The company is listed on the NYSE under the symbol FIS.

FIS has launched Worldpay for Platforms, a new SaaS solution that integrates global merchant and banking capabilities to empower software companies serving small-to-medium businesses (SMBs). Following the acquisition of Payrix, this platform aims to streamline payment and finance features, enabling software providers to enhance user experiences with minimal integration effort. It offers comprehensive payment solutions, facilitating various transactions, managing finances, and delivering tailored support, positioning itself as a crucial tool for SMBs to compete effectively.

FIS has launched RealNet™ Central, a payment solution aimed at enhancing real-time payment infrastructures globally. This initiative addresses the need for countries to modernize or establish their payment networks, with 72% of the world's population expected to access instant payments. Additionally, FIS introduced a CBDC Virtual Lab, allowing central banks to experiment with digital currencies. This innovative platform supports over one million transactions per second, promoting faster and more secure transactions in an increasingly digital economy.

Kasisto has secured an additional $15.5 million in Series C funding, led by Fidelity Information Services (FIS) and Westpac Banking Corporation, increasing total Series C funding to $31 million. This funding aims to accelerate growth in the US community banking market and enhance global AI innovation partnerships. Kasisto's KAI platform is a leader in conversational AI for financial services, aimed at improving customer experience and service models. The investment reflects confidence in Kasisto's growth and vision for the future of banking.

FIS announced that John Durrant will become the new President of Banking Solutions effective September 1. Durrant succeeds Martin Boyd, who is retiring but will assist in the transition until year-end. Durrant brings 25 years of experience from reputable firms like Bank of America and Capital One and is expected to drive innovation and client focus within the division. Boyd has been with FIS since 2015 and played a key role in the company's success.

FIS has announced the ten fintech companies selected for the 2022 FIS Fintech Accelerator program, which includes firms focusing on green banking, P2P payments, debt management, and more. This year, 30% of participants are women-founded companies. The program, now in its seventh year, aims to foster high-potential fintech innovations through mentoring, training, and investments. Graduates often secure further funding and partnerships with FIS. A public showcase of these innovations will occur on November 9.

ANZ New Zealand has partnered with FIS to implement its Modern Banking Platform on Microsoft Azure, marking the first deployment outside the U.S.. This cloud-based solution will modernize core banking capabilities, enhancing security and customer service. With 91% of financial institutions embracing cloud services, FIS aims to help ANZ innovate and speed up its banking services. Upgrading technology is part of ANZ's five-year investment plan, ensuring continued delivery of reliable services, pending regulatory approval.

FIS reported a revenue increase of 7% on a GAAP basis and 8% on an organic basis to $3.7 billion for Q2 2022. Diluted EPS reached $0.45, while adjusted EPS rose 7% to $1.73. The company returned $600 million to shareholders through share repurchases and dividends, reducing leverage to 2.9 times. Merchant Solutions led with an 11% revenue growth despite challenges from the Russia/Ukraine conflict. Notably, CFO James “Woody” Woodall will step down on November 4, 2022, succeeded by Erik Hoag. Full-year guidance was updated to reflect macroeconomic conditions and divestitures.